Caprolactam Industrial Chain Relocation and Upgrades Project Signed

The signing ceremony of caprolactam industrial chain relocation and upgrades project and the ground-breaking ceremony of caprolactam downstream industrial chain project were held on December 5, 2019. Hunan Vice Governor Chen Fei announced the start of the projects.

Lei Dianwu, senior vice president of the China Petrochemical Corporation (Sinopec Group); Liu Hesheng, secretary of the CPC Yueyang Municipal Committee; Li Aiwu, deputy secretary of the CPC Yueyang Municipal Committee and mayor of Yueyang City; municipal leaders Chen Ailin, Xiang Weixiong, Tan Zhenghong, Yang Kun, Liu Xiaoying; Wu Zhiyong, secretary of the CPC SINOPEC Baling Company Committee; Li Degang, manager of SINOPEC Baling Company; and Liu Chuanhan, secretary general of the Yueyang Municipal People’s Government, participated.

The two projects are concrete measures to implement President Xi Jinping's instructions on "Protecting the Yangtze River" and to reduce water pollutions caused by chemical factories, and important achievements of Yueyang’s industrial project construction and modern industry pattern formation.

The annual output value is estimated to reach 18.8 billion CNY, and the annual tax revenue to be 1,075 million CNY. Combined with the downstream industrial chain, the total investment will be 20.8 billion CNY. The output value is estimated to be 100 billion CNY due to the development of downstream industries such as spinning, engineering plastics, and nylon stretch film.

The Yueyang government signed relevant agreements with SINOPEC Baling Company. Yueyang Green Chemical Industrial Park, SINOPEC Baling Company, and SINOPEC Chemical Commercial Holding Company signed strategic cooperation framework agreements with related companies. 

Translator: Xiao Juan
Chinese source: yueyang.gov.cn